Binance has announced the launch of a new security feature called Withdraw Protection, a user-controlled withdrawal lock designed to protect against physical coercion, commonly known as 'wrench attacks.' The feature was unveiled on May 4, 2026.
Withdraw Protection allows users to freeze their own account from making on-chain withdrawals for a period of one to seven days. Users can choose between two modes: a standard mode with optional early unlocking (requiring both an authenticator app and a security key, plus optional email and SMS verification), or a strict 'lockdown' mode that disables early unlocking entirely. Binance has emphasized that the chosen lock period cannot be overridden by the exchange itself under any circumstances, except when required by law enforcement.
Binance Chief Security Officer Jimmy Su explained that the feature was developed in response to observed patterns of risky or coerced withdrawals. He specifically highlighted users traveling to regions where being identifiable as a crypto holder carries physical risk. 'They want to have this user-control layer where they can put in a restriction on withdrawals. In case anything happens, that would give them more time to recover,' Su said.
The launch comes at a time when physical coercion incidents against crypto holders are sharply rising. According to data from CertiK and researcher Jameson Lopp, verified physical coercion incidents increased by 75% in 2025, reaching 72 confirmed cases, while assault-related incidents jumped 250%.
Su clarified that the lock is enforced via an internal policy rather than a cryptographic mechanism. 'Our customer service agents are not able to override it,' he told CoinDesk. 'The goal is to address the irreversible transfer nature of crypto. Unlike a fiat scenario where funds are withdrawn to a checking or bank account and there are ways to reverse the transaction, you can't do that with onchain crypto.'
Withdrawal-delay features are not entirely new in the industry. Coinbase has offered Vaults with a 48-hour delay for years, and Kraken offers a similar Global Settings Lock. However, Binance's feature extends the maximum lock duration to seven days and gives users full control over whether early unlocking is possible.
Binance frames the feature as part of a broader shift toward proactive, user-driven security controls. Su also warned users about the risks of trading bots that request API keys with broad permissions, advising that 'once a key is used by a trading bot, it's as if they are operating on behalf of that user.'
The exchange continues to encourage users to whitelist withdrawal addresses in advance, maintain strong authentication, and avoid public discussion of their crypto holdings as part of a comprehensive security strategy.
